A strange paradox … The first country to adopt Bitcoin has only 4 cryptocurrency exchanges

El Salvador became the first country in the world to elevate Bitcoin to official currency status, which means businesses will have to accept cryptocurrency in daily transactions from now on. in then.

Interestingly, El Salvador is home to only four Bitcoin ATMs, which allow citizens to buy and sell cryptocurrencies for everyday life.

Although declaring Bitcoin as a regular currency is still a long way off in the countries of the North American continent, it still is in tops the number of Bitcoin ATMs with as many as 24,669 machines available in the US and in Canada and over 90% of the global penetration of these machines. , according to Coin ATM Radar data.

Europe, including the Russian Federation, is second with 1,263 cryptocurrency ATMs available in a total of 28 countries.

On the other hand, South America offers its residents only 89 cars in across the continent. The countries with the largest number of cryptocurrency ATMs in the region are Colombia, Brazil, and Argentina.

The introduction of Bitcoin as a viable currency in El Salvador was greeted with skepticism by its residents. According to a UCA El Salvador survey published in August 2021, nearly 83% of respondents have little or no confidence in Bitcoin as legal tender.

A strange paradox … The first country to adopt Bitcoin has only 4 cryptocurrency exchanges

Distribution of Bitcoin ATMs globally

Read More About: Business News

Leave a Reply